To comply with changing international privacy requirements, ICI informs its visitors that we use cookies on our web site. ICI only uses cookies to allow subscribers and members to more easily use our site and to record site utilization. No personal or private information is gathered or stored. More details, including how to disable cookies, can be found on our privacy and cookie policy page. If you disable cookies, you will see this message on future visits to our site. Please click the enable button to consent to accepting cookies.

Money market funds use minimal leverage; they invest only in short-term securities with minimal credit risk; and their portfolios are diversified and fully disclosed. In short, money market funds are designed to minimize the risks that banks are designed to take. Thanks to this strict regulation, money market funds have delivered a stable, $1.00 share price to their investors for almost 40 years, with two exceptions—one in the midst of a global banking crisis.

Norris also ignores the overwhelming objections to the SEC’s proposals from businesses, state and local governments, nonprofits, and others who value these funds’ stability, convenience, and liquidity. The SEC’s proposals will harm investors and the economy—just as inaccurate reporting and false analysis harm the public debate.”